Media rights dipped, cash soared - the Rs 20,686-crore BCCI paradox

New Delhi: The BCCI has strengthened its coffers by Rs 14,627 crore over the past five years, including Rs 4,193 crore in the last financial year alone, taking its cash and bank balance to Rs 20,686 crore, according to a report.

The rise, recorded after disbursing all dues to state units, has seen the general fund almost double from Rs 3,906 crore in 2019 to Rs 7,988 crore in 2024 as per figures shared with state associations, said a report in Cricbuzz.

According to the report, the statement of accounts submitted at the 2024 AGM reads, “Honorary Secretary apprised the members that since 2019, the cash and bank balance of BCCI has increased from Rs 6,059 crore which was before disbursing any amount to the state cricket associations to Rs 20,686 crore which is after disbursing all amounts owed to the state cricket associations.

“Therefore, since 2019, BCCI has added Rs 14,627 crore in the last five years. This is an increase of Rs 4,193 crore since the last financial year. Further, since 2019, the general fund too has increased from Rs 3,906 crore to Rs 7,988 crore which is an increase of Rs 4,082 crore.” The accounts also note that the board continues to set aside large sums for tax liabilities, provisioning Rs 3,150 crore for FY 2023-24 while contesting the matter in courts and tribunals.

“The BCCI has provisioned Rs 3,150 crore towards income tax obligations for FY 2023-24. While BCCI is on the right track before the courts and tribunals, it has still made provisions towards paying any obligations that may arise towards tax,” the report quoted the accounts as saying.

The paradox is stark. Even as gross media rights income dipped to Rs 813.14 crore from Rs 2,524.80 crore due to fewer home internationals, investment income jumped to Rs 986.45 crore from Rs 533.05 crore, aided by higher returns on deposits. Together with IPL earnings and ICC distributions, this helped the board post a surplus of Rs 1,623.08 crore for 2023-24, up from Rs 1,167.99 crore in the previous year.

The BCCI said it allocated Rs 1,200 crore towards infrastructure development in 2023-24, Rs 350 crore for the platinum jubilee benevolent fund, and Rs 500 crore for cricket development.

State associations received Rs 1,990.18 crore in the year, with Rs 2,013.97 crore projected for the current year, the report added.

The figures will be formally presented at the BCCI’s Annual General Meeting on September 28, the report said.